Sep.24 - Sep. 24 Eight Basic Ways to Gain Competitive...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Sep. 24 Eight Basic Ways to Gain Competitive Advantage 1. Reduce costs 2. Raise barriers to market entrants 3. Establish high switching cost 4. Create new products or services 5. Differentiate products or services 6. Enhance products or services 7. Establish alliances 8. Lock in suppliers or buyers Initiative #1: Reduce Costs Lower costs results in lower price Bigger Market Share Implement automation to become more productive The Web has made this possible for many Initiative #2: Raise Barriers to Market Entrants Patenting Initiative #3: Establish High Switching Costs Explicit Switching Costs
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Initiative #4: Create New Products or Services Lasts only until competition offers an identical or similar product or service for a comparable or lower price Mr. Wakeup By scheduling informative phone calls or “Pings” for yourself or for others, you can start your day with the latest news, weather, horoscope or custom information you record yourself thru Mr. Wakeup.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/01/2011 for the course MIS 330 taught by Professor Choobineh during the Fall '08 term at Iowa State.

Page1 / 4

Sep.24 - Sep. 24 Eight Basic Ways to Gain Competitive...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online